MTN makes U-turn; suspends new MoMo charges scheduled for July 1

MTN Ghana, a major player in the telecommunications industry, has announced that it will not be implementing the planned modifications in Mobile Money (MoMo) rates that were set to take effect on July 1, 2023.

Earlier, the telecom had stated that there would be a charge of one percent for transactions up to GH2,000 and a fixed rate of GH20 for transactions that were greater than GH2,000.

MTN makes U-turn

However, MTN reports that they have reversed their decision as of this moment.

“…The planned review of the cash-out fee for MoMo has been withdrawn. The current cash-out fee of 1%, capped at GH¢10 still remains and will be charged to your wallet. Do not pay any other fees. We apologize for any inconvenience this may have caused,” MTN Ghana said in a notice to its members.

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